Charles Schwab companies pay $118 million to settle SEC charges, case against execs continues

Mark Sands
31 Jan 2011

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The US Securities and Exchange Commission (SEC) has charged two Charles Schwab investment companies and two executives with making misleading statements.

Charles Schwab Investment Management (CSIM) and Charles Schwab & Co (CS&Co) agreed to pay $118 million to settle the SEC’s claims, but the cases against the individual executives continue.

Kim Daifotis, former chief investment officer for fixed income at CSIM, and Randall Merk, an executive president at CS&Co, allegedly committed fraud among

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